Ref.Soya oil trading range for the day is 1146-1292 - Kedia Advisory
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SOYABEAN
Soyabean trading range for the day is 6425-7145.
Soyabean prices gained tracking firmness in overseas prices on bargain-buying and as fresh export demand emerged.
Chinese state-owned importers bought at least eight cargo shipments of U.S. soybeans, the country's largest U.S. soybean purchases in 4-1/2 months.
Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021
At the Indore spot market in top producer MP, soybean gained 234 Rupees to 7089 Rupees per 100 kgs.
RMSEED
Rmseed trading range for the day is 6353-7057.
Mustard seed gained as the arrival of mustard in the mandis has decreased at all places in the country.
However upside seen limited amid flagging global overseas prices amid forecasts for beneficial rains across the Canadian Prairie.
Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
In Alwar spot market in Rajasthan the prices gained 277.25 Rupees to end at 7058 Rupees per 100 kg.
SOYOIL
Ref.Soya oil trading range for the day is 1146-1292.
Ref soyoil ended with gains as Indian oilmeals export up by 52% in April-May 2021-22
Imports would remain elevated even in June as many states are easing lockdowns and allowing restaurants to reopen.
A coalition of nine Argentine port worker unions went on a nationwide 24-hour strike to press for vaccinations against the coronavirus.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1287.75 Rupees per 10 kgs.
CRUDE PALM OIL
CPO trading range for the day is 1001.7-1056.7.
Crude palm oil ended with gains as traders waited for June partial export data and production estimates for more direction.
India has put on hold a proposal to reduce import taxes on edible oils as cooking oil prices started to fall in the world market
India's palm oil imports nearly doubled in May as refiners bought aggressively to replenish inventory.
In spot market, Crude palm oil gained by 15.8 Rupees to end at 1048.8 Rupees.
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